Reference no: EM132624282
Question - Below was the transactions worksheet of Selna Enterprise on April 1, 2020. + ASSETS Cash + Account Receivables 3,600 + Prepaid expenses 1,000 Supplies on hand 350 LIABILITY Account payable 2,000 EQUITY Share capital 7,350 Retained earnings 4,400 The following transactions occurred during April:
April 1 Collected RM2,000 cash in satisfaction of an amount owed by a customer.
April 3 Billed RM3,000 to customers for chairs rented to date.
April 4 Paid the following expenses: advertising, RM300; salaries, RM2,000; telephone, RM100.
April 6 Paid half of the accounts payable. April 9 Received a RM500 bill for April truck operating expenses.
April 15 Collected RM2,500 in satisfaction of an amount owed by a customer.
April 16 Billed RM1,500 to customers for chairs rented to date.
April 16 Transferred RM500 of prepaid expenses to rent expense.
April 25 Issued additional share capital and received RM10,000 cash.
April 30 Counted RM200 of supplies still on hand (recorded the amount used as an expense).
Required -
(a) Record the above transactions in the relevant journals. Narrations are required.
(b) Record the opening balances and the above transactions on a transactions worksheet and calculate the total of each column at the end of April. (Use the headings above on your worksheet.)